This paper puts forward a demand-oriented model of economic growth, as an alternative to the supply-orientated approach of neoclassical theory, and evaluates the extensive research testing the dynamic Harrod trade multiplier model developed by Thirlwall and extended by McCombie. It is critical of the continued dismissal of demand constraints as an explanation of inter-country growth rate differences in the models of McGregor and Swales, Crafts, Krugman, etc., and in the 'new' growth theory literature, although it is sympathetic to the rehabilitation of the role of increasing returns for an understanding of cumulative processes which make for divisions in the world economy. Copyright 1997 by Taylor and Francis Group
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Volume (Year): 11 (1997) Issue (Month): 1 (January) Pages: 5-26 Download reference. The following formats are available: HTML
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